Today’s instrument is Lowe’s Companies Inc.‘s stock traded in the NYSE exchange under the ticker LOW.
When we look at the LOW‘s chart, we see it’s been trading in a downtrend since the 16th of February, falling steadily lower and lower as market conditions worsen. There was a bounce from the support level of $211 during yesterday’s session rallying up to the $226 range but unable to consolidate it retracted and erased all gains made intraday. It was last found trading at $215.08 above the support of $211 and the closest overhead resistance of $228.
Lowe’s Companies Inc. had scheduled a quarterly earnings announcement yesterday 23/02/2022. Earnings expectations were surpassed, with both EPS and Revenue estimations surpassed today could expect the price to move upwards, towards the $228 price range.
Today we can expect a move towards the $222 resistance level.
If however, it doesn’t manage to hold on to the current level then a move below the $211 support can be expected.
(Click on image to enlarge)
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